Mixed hotel performance for APAC in Q2 2016
Hotels in the Asia Pacific region recorded mixed Q2 2016 results when reported in US dollar constant currency, according to data from STR.
Compared with the three key performance metrics from Q2 2015, the Asia Pacific region reported a 1.3% increase in occupancy to 68.3%. Average daily rate was down 1.1% to US$96.95. Revenue per available room was nearly flat (+0.2% to US$66.18).
Performance of featured countries for Q2 2016 (local currency, year-over-year comparisons):
Australia recorded increases in each of the three key performance metrics. Occupancy in the country rose 2.0% to 73.4%; ADR was up 1.8% to AUD175.25; and RevPAR increased 3.9% to AUD128.71. June-specific results were similar, with RevPAR up 5.4% to AUD124.45. Demand growth has outpaced supply in all but one month thus far in 2016, and the Transient segment (RevPAR +5.7%) has performed much better than the Group segment (RevPAR -4.5%). STR analysts believe that the devaluation of the Australian dollar is boosting both international and domestic demand in the country. At the market level, Sydney, Hobart and Gold Coast have been top performers, whilst Brisbane and Darwin have declined.
Asia Pacific performance for June 2016 (U.S. dollar constant currency, year-over-year comparisons):
Asia Pacific results were mostly positive when compared with June 2015. The region reported a 2.1% increase in occupancy to 67.0%. ADR was down 0.8% to US$93.55. RevPAR increased 1.3% to US$62.68.
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